Barclays has increased the income residential mortgage applicants need to get a 5x income multiple from £45,000 to £55,000.
Applicants with incomes of less than £55,000 will get income multiples of up to 4.49 x income.
The 4.49x figure also applies to those with incomes of more than £50,000 and LTVs of more than 85 per cent, as well as Help to Buy Scheme applicants.
Income multiples of 4x will apply to LTVs of greater than 85 per cent and income of less than £50,000 and those with a debt to income ratio of more than 20 per cent.
The new criteria apply to cases submitted from today.
A rate of 5.5x applies to the lender’s family springboard mortgage for incomes above £50,000.
Premier and Wealth customers have access to the 5.5x loan to income multiple on repayment loans at 85 per cent LTV or below.
A Barclays spokesman had no additional comment on the news.
